Third quarter 2017
* Gross cash collection of NOK 650 million (474)
- up 37% y-o-y
* Operating profit of NOK 253 million (167)
- up 52% y-o-y
* Cash EBITDA of NOK 472 million (325)
- up 45% y-o-y
* ERC at end of month NOK 12,191 million (8,014)
- up 52% y-o-y
(comparable numbers for Q3 2016 in brackets)
B2Holding ("B2H") experienced continued strong growth and solid operating performance during the third quarter. The Group recorded all-time high levels across all key performance indicators, and is seeing a strong outlook with a record large pipeline of NPL portfolios coming to market.
The Group posted a record-high quarterly cash EBITDA of NOK 472 million, an increase of NOK 147 million compared to Q3 2016 (+45%). The operating profit hit NOK 253 million (+52%) and net profit increased to NOK 113 million from NOK 46 million in Q3 2016 (+71%).
In Q3 2017, B2H invested NOK 702 million in new portfolios, distributed over all segments. The Company has acquired portfolios for approx. NOK 3.2 billion over the last 12 months (+46%) and grown the total gross ERC to approx. NOK 12.2 billion (+52%).
After the quarter, B2H successfully issued a new unsecured bond of EUR 200 million and increased the existing RCF with a EUR 100 million term loan. Following the increase, B2H is positioned to continue to capture growth with NOK 3.3 billion investment capacity at the end of the quarter, in addition to strong operating cash flow from collection on purchased loan portfolios.
In connection with the new bond issue, the Company announced that it will initiate a public rating process and expects the process to be completed during Q2 2018.
For further information, please see the Q3 2017 presentation and report attached.
The documents are also available on the Company's website:
http://www.b2holding.no
A global investor call will be held Friday 24 November 2017 at 15:00 CET:
Dial-in: +47 21 00 26 10 (Norway)
+44 (0)330 336 9105 (International)
Pin: 9156643
Attachments:
B2Holding ASA - Third quarter presentation 2017
B2Holding ASA - Third quarter report 2017
